Budget FY14: Rs31bn earmarked for Railways

ISLAMABAD: Finance Minister Ishaq Dar on Wednesday announced that Rs. 31 billion has been earmarked for the rehabilitation of Pakistan Railways.

He stated this while presenting the Federal Budget 2013-14 in National Assembly.

Finance Minister said Railways which was the most reliable mode of transportation was also destroyed but the new government has decided to rehabilitate and upgrade railway network and its infrastructure.

He said that a comprehensive plan is being chalked out under which railway will be made a independent corporation which will be governed by a board of governors. He said that under this plan all railway assets will be utilized through public-private partnership.

He said that signaling system of railway will also be modernized.

He said feasibility study to link Pakistan with Afghanistan and China through rail will worked out.

He said similarly Karachi circular railway project will be launched through Japanese technical and financial assistance. (PPI)